27 Jul 2012

Asian demand drives Comvita sales boost

1:54 pm on 27 July 2012

The bee products company Comvita says rapidly rising demand in China and the wider Asian region is driving the increase in sales of its natural health and beauty products.

Comvita has announced a net profit after tax of more than $8 million for the past year, with a 17%increase in sales.

Sales in China have more than doubled in a year, and its fastest growing export market is South Korea.

Comvita chief executive Brett Hewlett says Asia will continue to be the main market focus.

He says he thinks it will take a long time to exhaust the potential of a market like China.

The company's newest market, Korea, is also growing rapidly and Mr Hewlett says it is exploring the possibilities for growth markets like Thailand, Indonesia, Malaysia and India.

Sales of medicinal honey have been growing by about 38% a year.

The company has opened a new high tech medical extraction facility and has increased the number of beehives by 50%.